Pennsylvania Educational Improvement Tax Credit

What is EITC?

 

The PA Educational Improvement Tax Credit (EITC) is a PA Department of Community and Economic Development (DCED) program that provides state tax credits to eligible businesses for charitable contributions. Breakthrough of Greater Philadelphia is now approved as an Educational Improvement Organization (EIO) for 2016 – 2017 under the EITC program.

 

Businesses that contribute to an EIO receive a tax credit of 75 percent.  The tax credit will increase to 90% if they commit to donating for two consecutive years.

 

Who qualifies?

 

Any organization which pays:

  • Personal Income Tax
  • Capital Stock/Foreign Franchise Tax
  • Corporate Net Income Tax
  • Bank Shares Tax
  • Title Insurance & Trust Company Shares Tax
  • Insurance Premium Tax (excluding surplus lines, unauthorized, domestic/foreign marine)
  • Mutual Thrift Tax
  • Malt Beverage Tax
  • Retaliatory Fees under section 212 of the Insurance Company Law of 1921

How to apply

 

EITC guidelines and applications can be found here.

 

Applications for returning donors start (May 15, 2016)

 

New applications start (July 1, 2016)

 

 

Who benefits?

 

Your contribution will enable Breakthrough of Greater Philadelphia to support its unique dual mission:

 

  1. Provide middle school and high school students from Philadelphia’s under-resourced schools with the education and supports they need to access higher education.  
  2. Recruit and train the next generation of teachers during an annual Teaching Fellow internship program. 

 

We hope you'll take full advantage of this opportunity to receive tax credit on a charitable contribution. You'll be doing a world of good for thousands of children in your community.